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Blair William & Co. IL lowered its position in Churchill Downs Incorporated (NASDAQ:CHDN – Free Report) by 56.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,057 shares of the company’s stock after selling 5,202 shares during the quarter. Blair William & Co. IL’s holdings in Churchill Downs were worth $542,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CHDN. Blue Trust Inc. raised its position in Churchill Downs by 127.2% in the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Churchill Downs in the 3rd quarter valued at about $27,000. Fortitude Family Office LLC lifted its position in Churchill Downs by 2,733.3% in the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after buying an additional 246 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in Churchill Downs in the fourth quarter valued at about $55,000. Finally, R Squared Ltd acquired a new stake in shares of Churchill Downs during the fourth quarter valued at about $55,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have recently commented on CHDN. Mizuho decreased their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Stifel Nicolaus decreased their price target on Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, March 19th. JMP Securities reissued a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a research note on Thursday, January 16th. Finally, Wells Fargo & Company dropped their target price on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $159.38.
Check Out Our Latest Research Report on CHDN
Churchill Downs Stock Performance
Shares of CHDN opened at $102.66 on Friday. Churchill Downs Incorporated has a 1 year low of $101.62 and a 1 year high of $150.21. The stock has a market capitalization of $7.54 billion, a PE ratio of 18.07, a PEG ratio of 2.95 and a beta of 0.86. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. The stock has a 50-day simple moving average of $116.11 and a 200-day simple moving average of $129.27.
Churchill Downs (NASDAQ:CHDN – Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The firm had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $620.21 million. On average, analysts predict that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.
Churchill Downs declared that its board has initiated a stock buyback program on Wednesday, March 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 6.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.
Churchill Downs Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. Churchill Downs’s dividend payout ratio is presently 7.04%.
Churchill Downs Company Profile
Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.
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